#What is LayerZero Foundation's new initiative?
LayerZero Foundation has commenced a buyback of 50 million ZRO tokens, aimed specifically at early investors who supported the project during its formative stages. This strategic move by the non-profit organization responsible for developing the LayerZero blockchain interoperability protocol underscores its commitment to its initial backers and signals a long-term confidence in the platform’s future.
Token buybacks are a common practice within the cryptocurrency sector, primarily employed to decrease the circulating supply. By doing so, LayerZero aims to enhance the overall value of its tokens while demonstrating its belief in the potential growth of its protocol.
#How has LayerZero performed since its launch?
Launched in June 2024, ZRO entered the market with an initial fully diluted valuation around $3 billion. To encourage community participation, the foundation allocated 8.5% of the total token supply via an airdrop on launch day. This distribution method not only boosts community involvement but also helps establish a robust user base for the cryptocurrency.
LayerZero’s blockchain protocol connects more than 50 different blockchains and has facilitated over 100 million cross-chain messages. This extensive connectivity not only enhances the liquidity of decentralized applications but also solidifies LayerZero's role in fostering a more integrated blockchain ecosystem.